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We understand that protecting your confidentiality is vitally important.
When you sell your business, either on your own or through most other brokers, you risk exposing confidential information about your business, including:
- The fact that it's for sale
- Sensitive financial data
- Operational details, procedures & methods, equipment lists, inventory levels, etc.
- Business plans, marketing strategies, new initiatives, customer lists, etc.
Exposure of such information to competitors, customers, employees and the public at large can be detrimental to your business. Customers and employees might leave, encouraged by your competitors. Competitors may gain access to your trade secrets and confidential plans.
At VR, we focus exclusively on business brokerage, so we fully understand the vital importance of protecting your confidentiality. By contrast, our Realtor competitors are accustomed to openly advertising the sale of their properties for all to see.
We have rigorous systems and procedures in place to protect your confidentiality.
We have a rigorous and proven process for protecting your confidentiality:
- All public marketing materials are carefully scrutinized to ensure they reveal nothing that could be used to identify your business
- Prospective buyers are screened thoroughly to ascertain their identity, resources, and motivations
- All prospective buyers must complete and sign our Confidentiality & Net Worth Statement before receiving identifying or other sensitive information about your business
- Depending on your level of concern about confidentially, we can take further optional steps as appropriate
- Require buyers to provide proof of financial resources to complete the acquisition
- Create numbered copies of all documents and not allow duplication by buyers
- Require your approval of each buyer before providing information
- Require buyers to come to a VR office for a face to face meeting
- Allow viewing of certain documents only in the VR office, and not allow copies to be taken out of our offices at all, or until specified conditions are met
We will tailor our process to meet your particular needs.
There is, to some degree, a tradeoff between maximizing the exposure of your business and protecting your confidentiality. We work closely with you to develop procedures and plans tailored to your particular situation.
- First, we understand precisely your level of concern about the confidentiality of different types of information (as listed above)
- We review our marketing materials for your business before we use them to ensure they address your confidentiality concerns
- We agree on the procedures that prospective buyers must follow and information they must provide before they can get access to various sensitive information
- We agree on additional steps to control and limit distribution and retention of information.
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